Question 55019: No book.
Take this situation,increase in gas prices from 2004 to 2006,and create an equation or inequality that could be used for analysis, prediction, or decision-making. Then, draw a graph to depict the variables in the situation.
Here are the stats:
July 2004, price per barrel,$48
Jan. 2005 price per barrel,$50
July, 2005, p. p. b., $62
Jan. 2006, p.p.b.,$70
July. 2006, p.p.b, $79
Thanks so much!!!!!
Answer by Hook(36)   (Show Source):
You can put this solution on YOUR website! I'm assuming this is for an Algebra II or higher level course. If this is for a stats class, this problem is an entirely different animal.
Here's the deal...if you have  data points, you can always make a  th order polynomial to fit the data. In English, for 5 data points, you'll have an equation of the form  .You just have to find a,b,c,d, and e...then graph it all.
We'll define x as the number of 6-month periods from Jul 04. So we have the following data set
(0,48),(1,50),(2,62),(3,70), and (4,79)
If you plug each of those data points into our 4th order equation, you get the following system of equations:
Simplifying yields:
I'm also going to assume that if you're in this level of class, you can solve a system of 5 equations using some sort of computer-aided gadgetry.
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